Theme: The real Cost of Procrastination and how to overcome it.

Another weekend passed, where I found myself impulsively spending $38.96 on 50 stems of beautiful red roses. Amidst this purchase, I missed the opportunity to create three new designs for my Mother’s Day catalogue, engaging Instagram content, and enhance my flower shop’s webpage. Instead, I succumbed to the allure of watching all the James Bond movies from 2008 to 2021, mesmerized by Daniel Craig’s enchanting blue eyes.

The repercussions of my procrastination became starkly evident on Monday noon after a distressing work meeting, where I found myself overwhelmed by insecurities, mistakes, and unfulfilled tasks. Hastily arranging the roses in a vase, they stood untouched for three more days, losing their allure and value (See Picture above). As I wallowed in stress, tears, self-pity, and avoidance, the fragility of my mental state became apparent, compounded by the knowledge of my rising credit card debt and the looming threat to my financial stability. The harsh truth dawned on me that these were the real costs of procrastination.

The most real consequence of my procrastination was the turmoil within my own mind. Despite my 15+ years of experience in the financial sector, I found myself grappling with financial issues and an inability to focus. The irony was not lost on me – how had I arrived at this point, and more importantly, could I change it?

As we embark on a new year, there’s no better way to kickstart progress than by reflecting on past missteps and charting a better course to achieve my dream. By searching into the losses incurred through procrastination, we can equip ourselves with the insight needed to break free from this cycle and cultivate positive change in the year ahead. Let’s start!

Always worrying

By avoiding tasks, you will always have that dragging feeling that something is missing, something that, due to time constraints, you were not able to complete. Similar to the incomplete catalogue in the story above. Today is January 9, 2025, and that catalogue is still unfinished. My source of worry usually stemmed from the idea that I let down my dream again.

Frequent worrying often emerges as a subtle yet significant cost of procrastination, effectively draining one’s mental and emotional reserves. Over time, the cumulative toll of constant worrying decreases our ability to effectively plan and execute tasks with clarity and focus, perpetuating the procrastination cycle. By recognizing the toll that incessant worrying takes on both mental and physical well-being, you can begin to confront the cost of procrastination and prioritize what truly matters. Don’t lose faith in yourself; you can overcome it!

Self-doubt

This cost is real and true to me. Over time, as I have been working on creating my business, I found myself unable to focus on the tasks at hand and actually do the work needed to make it successful. This has lead me to doubt everything. I questioned whether I truly possessed the knowledge needed for my job and if I had the necessary qualities to succeed as an entrepreneur. If I get real with myself, if I don’t overcome my procrastination habits, I may struggle to thrive as a sole business owner. Ultimately, self-doubt is the dream killer and a primary cost of procrastination.

Research consistently underscores the detrimental impact of self-doubt on individuals’ ability to achieve their life goals. A study published in the Journal of Experimental Social Psychology highlighted that self-doubt can lead to decreased motivation, eliminate goal-setting behavior, and increase the likelihood of procrastination. This doubt undermines one’s belief in their capabilities, diminish confidence and resilience in the face of problems.

Furthermore, the American Psychological Association emphasizes that persistent self-doubt can fuel anxiety and self-criticism, creating a cycle of negativity that impedes progress on anything really. By internalizing and perpetuating self-doubt, you unintentionally sabotage your own potential for success and increases the disposition to suffer from the Impostor Syndrome (IS) (this one specially for women).

Bad Reputation/ Losing friends

Truth be told, not investing time in your projects and in the people you love will cost you. It will cost you exactly that. Therefore, spending time watching TV instead of picking up the phone to call your friends and work on that project will create bad projects and weak friendships. Which in turn will lead to a bad reputation both in work and life and ultimately resulting in people not wanting to spend time with you. Remember that word. Time in this life is spent. Once it passes, you lose it. Why would someone spend time on you if you do not reciprocate? The results of your projects will be directly proportional to the time you invest in them. That is the truth, just as the constitution says, “these are self-evident truths”.

There is a phrase I read a while back: “Time flies over us, but leaves its shadow behind.” Ask yourself, what shadows are you leaving behind? Write the answer in your journal every morning, as it will guide your next steps.

Economic Cost

And of course, the real cost of procrastination can usually be translated into money. Have you ever read or heard about the time value of money? It is one of the first topics covered in a business major. Investopedia summarizes the concept most efficiently: “The time value of money (TVM) surmises that money is worth more now than at a future date based on its earning potential. Because money can grow when invested, any delay is a lost opportunity for growth.” In the same vein, time is worth more now than in the future. Every instance where you say, “I will do it later,” may never happen. Thus, any action towards your dream, job, or project holds more value if done today rather than tomorrow.

Similarly, in my story above, I not only lost the money spent on flowers (USD 38.96) but also missed the opportunity to sell the catalog I had intended to create for Mother’s Day (USD5K or more). I missed learning from what I could have done better, redefining my ideas, and progressing forward. Missed opportunities equal to financial loss, and what you procrastinate on is what you lose. The chance to create something is forgone, and sadly, that chance never returns. By analyzing the economic cost of delaying activities for instant gratification, you will witness the actual monetary cost of procrastination. Adding a tag price to your time will undoubtedly offer a fresh perspective on deciding if watching TV is better than writing a bog post or creating something.

Strategies to Overcome Procrastination

Before closing this post, I will like to give you some tools you can use, research and develop to help you overcome the real cost of procrastination. Some are in the web in repetition mode, but that only means that are good advices. Tae what you like, but as Nike says, Just Do iT!

• Break Tasks Into Smaller Steps: Overcome the inertia of starting by breaking tasks down into manageable chunks. Focus on completing one small step at a time. For example, instead of creating a catalog with 10 products, start by just creating one, and then the second, and the third, and so on.
• Set Realistic Goals and Deadlines: Establish clear, achievable goals with realistic deadlines to provide structure and motivation.
• Eliminate Distractions: Identify and minimize distractions that contribute to procrastination, such as TV, social media, notifications, or cluttered workspaces.
• Practice Time Management: Utilize time management techniques, such as the Pomodoro Technique* or time blocking, to enhance focus and productivity.
• Develop a Routine: Establish a daily routine that includes dedicated time for important tasks, self-care, and relaxation to maintain a healthy work-life balance.
• Cultivate Self-Compassion: Be kind to yourself when setbacks occur. Acknowledge that everyone struggles with procrastination at times and focus on progress rather than perfection.

Conclusion

Procrastination may offer temporary relief, but its long-term costs can be significant. By understanding the hidden impacts of procrastination and implementing effective strategies to overcome it, you can enhance your productivity, well-being, and overall quality of life. Start this year fresh and take the first step towards breaking the cycle of procrastination today and reclaim control over your dreams.

Call to Action

What strategies have you found effective in combating procrastination? Share your tips and experiences in the comments below to inspire and support others on their journey to increased productivity and success.

*The Pomodoro Technique is a time management method developed by Francesco Cirillo in the late 1980s. It involves breaking your work into intervals, traditionally 25 minutes in length, separated by short breaks. These intervals are known as “Pomodoros.” After completing four Pomodoros, you take a longer break. The technique aims to improve focus and productivity by allowing individuals to work in shorter, focused bursts and take regular breaks to avoid burnout.